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JUL/AUG 2013  

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BinOptics gets $13.3 million in funding

BinOptics Corp. has received $13.3 million in new funding.

The Ithaca-based manufacturer of lasers and monolithically integrated optoelectronic components will use the funding to continue expansion of its product lines and to accelerate development of new products, according to the company.

The funding comes from five new investors: Advantage Capital Partners, Enhanced Capital Partners, Gefinor Ventures, Onondaga Venture Capital Fund and Rand Capital.

Existing investors, ArrowPath Venture Partners, Cayuga Venture Fund, Draper Fisher Jurvetson and FA Technology Ventures, also participated in the new funding.

“This funding enhances our ability to meet strong demand for our current 2.5 Gbps and 10 Gbps Distributed Feedback laser products,” said BinOptics Chairman and CEO Alex Behfar, in a statement.

BinOptics, founded in 2000, uses proprietary processes for manufacturing lasers and integrated photonic devices.